HomeTop StoriesImpact of Patelco Credit Union ransomware attack could last for days

Impact of Patelco Credit Union ransomware attack could last for days

A ransomware attack at Patelco Credit Union in Dublin could leave customers without access to banking services for days or weeks, the company said

In an email to credit union members, Erin Mendez, president and CEO of Patelco, said a forensic cybersecurity firm helped the company investigate the attack and restore its networks as quickly as possible, but said it would take time to restore full service to customers.

“The coming days – and weeks – may present challenges for our members as we continue to work around the limited functionality we are experiencing as a result of this incident,” Mendez said in the email.

According to the email, electronic transactions such as recurring deposits, direct deposits and balance inquiries were unavailable, including those using the Zelle digital payment network. Automated Clearing House (ACH) payments made using a Patelco account also were not processed, while debit and credit card transactions functioned in a limited manner.

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The email stated that transactions and ACH transfers initiated at other institutions are being processed, as are ACH debits initiated by a biller. Checks written to Patelco accounts are being paid, while mortgage or rent payments made by personal check from Patelco checking accounts are being processed. However, each of those transactions shows a delay in debiting or crediting the Patelco account.

Mendez said Patelco would reimburse any late fees incurred as a result of the ransomware attack, and any Patelco overages, late payments or ATM fees will be waived until the system is fully up and running again. Mendez also said members who are concerned about late payments affecting their credit score can have letters written on their behalf by Patelco.

“Rest assured that while we do not have all the answers to your questions at this time, we are working hard to resolve this issue and will continue to communicate as frequently and transparently as possible as we learn more,” Mendez said.

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The source of the ransomware attack was not identified and there was no information about whether Patelco customers’ personal data was at risk.

Patelco has set up a website with the latest information about the ransomware attack, including service availability: patelco.org/SecurityUpdate.

The credit union has 455,000 members with more than a million accounts and 37 branches in the Bay Area and Sacramento region.

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